Costa Prime Vastgoed
Costa Prime Realty operates in compliance with Spanish Law 10/2010 on the Prevention of Money Laundering and Terrorist Financing.
As a regulated real estate professional in Spain, we are legally required to perform identity verification and retain documentation for certain transactions.
1. Identity Verification (KYC)
Before proceeding with qualifying property transactions, we may request:
- Valid passport or national ID
- NIE (Número de Identidad de Extranjero), where applicable
- Proof of address
- Source of funds documentation (when legally required)
This process is known as “Know Your Client” (KYC).
2. Purpose of Verification
Verification is required to:
- Prevent money laundering
- Prevent fraud
- Ensure compliance with Spanish regulations
- Protect all parties involved in the transaction
3. Data Handling
All documents collected for AML purposes are:
- Stored securely
- Processed confidentially
- Retained only for the legally required period
- Not used for marketing purposes
4. Reporting Obligations
Where legally required, suspicious transactions may be reported to the competent Spanish authorities in accordance with applicable law.
Costa Prime Realty is prohibited by law from disclosing certain reporting activities.
5. Client Cooperation
Failure to provide required documentation may result in suspension or termination of services.
